Odisha EOW Arrests Businessman In Rs 3 Crore Fraud

Bhubaneswar: The Economic Offences Wing (EOW) of the State Crime Branch on Saturday arrested Bishnu Prasad Sahu, owner of Sahil Enterprises for allegedly duping nearly two dozens of investors to the tune of Rs 3 crore.

Sahu was arrested on a complaint filed by one Shubhranshu Shekhar Raut who has accused the former of duping him and other persons.

The complainant has alleged that Sahu had asked 22 persons to invest in his potato and Sea food trading/ prawn businesses and collected about Rs.2.5 crores by promising them high returns and dividend.

The complainant claimed he had invested Rs 66 lakhs during the period from March 2017 to March 2018 which was deposited at Sahu’s firm in Bhubaneswar. The accused hails from Keonjhar district.

Apart from the complainant, the accused had also collected nearly Rs 2.5 crores from 21 other people, the police said.

“To gain the trust of the investors, the accused had prepared fake/ forged agreements and falsely assured the depositors high returns. After misappropriating the money, the accused started avoiding the depositors and went underground. Following the registration of the case, movement of the accused was put under surveillance and he was arrested from Bhubaneswar yesterday,” EOW said in a release.

Sahu has been booked under several IPC Sections pertaining to cheating, criminal breach of trust, fraud and criminal conspiracy along with Section 6 of the OPID Act, 2011. He has been remanded to judicial custody by a designated court in Cuttack, the EOW release added